Podcast
Questions and Answers
What is the primary focus of the Onboarding process?
What is the primary focus of the Onboarding process?
What is the purpose of Pre-Employment Screening?
What is the purpose of Pre-Employment Screening?
What is Masterdata in the context of HR Processing?
What is Masterdata in the context of HR Processing?
What is the difference between voluntary and involuntary exits?
What is the difference between voluntary and involuntary exits?
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What is the purpose of deductions from an employee's salary?
What is the purpose of deductions from an employee's salary?
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How many countries process payroll, including South Africa?
How many countries process payroll, including South Africa?
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What is the primary output of the HR Processing elements?
What is the primary output of the HR Processing elements?
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What is the range of the employee base of the bank?
What is the range of the employee base of the bank?
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Study Notes
Payroll Elements
- Payroll processing involves three key elements: Onboarding, Masterdata, and Offboarding.
Onboarding
- Onboarding is the process of absorbing new employees into the bank, whether permanent or temporary.
- This process includes Pre-Employment Screening (PES) to verify employee claims, such as criminal records and education.
- PES is not limited to onboarding and is also conducted for current employees.
Masterdata
- Masterdata involves continuously updating customer profiles.
- Updates may include transfers, promotions, demotions, and other changes.
Offboarding
- Offboarding is the process of removing employees from the bank, either voluntarily or involuntarily.
- Voluntary exits occur when employees resign, while involuntary exits may be due to death, retirement, contract termination, or retrenchments.
Payroll Processing
- Payroll processing generates payslips based on inputs from Onboarding, Masterdata, and Offboarding.
- Deductions are made from third-party vendors, such as Liberty, Bankmed, Alexander Forbes, and SARS.
- These deductions are paid for by the bank on behalf of the employee.
Global Presence
- The bank has an employee base of 30,000-35,000 employees across 16 countries, including South Africa, Lesotho, Botswana, Nigeria, Angola, and others.
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Description
This quiz covers the essential elements of payroll processing from an HR perspective, including onboarding, masterdata, and offboarding. Understand the key differences and importance of each process.
